SWOT
As a team, identify your project's strengths, weaknesses, opportunities and threats. Use this internal and external analysis to visualize potential benefits and hazards, so you have a clear idea of what you need to do to launch your project management confidently. The SWOT matrix is easy to use with your team, highly relevant and incredibly effective!
The SWOT matrix: a thorough strategic analysis of your project
SWOT (Strengths, Weaknesses, Opportunities, Threats) is a strategic analysis tool. Invented in the 1950s, this matrix can be used in all fields where teams want to take a step back and define an action plan together to improve their performance or change a situation.
It’s an effective tool to be used at different stages in your project management, from the launch to interim reviews. It involves conducting an internal and external strategic analysis of your project with your team, analyzing four key aspects, and then quickly highlighting the actions to be taken.
With this template, you can engage all team members, whether you’re in a face-to-face meeting or working remotely. You collect analytical data, organize the information visually in the SWOT matrix and quickly identify solutions.
An example of a ready-to-use SWOT to launch your project with peace of mind
The SWOT matrix analyzes both internal and external factors that will have an impact on a new product launch, project development or your team's activity.
It's a real brainstorming session using internal analysis to identify the team's characteristics in terms of weaknesses and strengths. Strengths represent their resources, skills or competitive advantages, while weaknesses represent a disadvantage compared to your competitors. The external analysis involves environmental factors that can have a positive or negative impact. Basically, it's all about opportunities and threats.
The Klaxoon SWOT template provides you with a complete overview along with a documentation phase. It will help you reduce the risks associated with market uncertainty, and make the right decisions.
Concise and visually engaging, the SWOT matrix will make you aware of some weaknesses that you might not have identified without an internal analysis. By examining your project, you limit the risks for its future development and management.
How to use the SWOT matrix with Klaxoon Board
First, invite your team members in whichever way you prefer: by sending them the whiteboard code (with or without a Klaxoon account), scanning the QR code, sending the login link by email, or entering the participants’ email addresses in the invite menu. Once everyone is logged in, together or remotely, explain the objective of the SWOT matrix workshop. The brainstorming should take about an hour.
Then, use the timer to set 15 minutes for each analysis. Start with the internal analysis. Everyone adds their ideas in the “strengths” zone (positive aspects of the department, product or project) and weaknesses (negative aspects to be improved), using the right color and category. Then, do the same with the external market analysis. This includes opportunities (positive external factors from which you can benefit) and threats (problems, obstacles or external barriers). You can change to column view to see the ideas ordered by category.
Then, time 10 minutes to review the suggested ideas as a team. You can ask questions to which all the participants on the whiteboard can respond, using the Question tool.
Now, all you have to do is define relevant actions based on your analysis and assign each one to a team member. To do this, ask the idea owners to send their photo, so you can link it to the selected idea. And there you have it! Your action plan is ready to be implemented with complete confidence!
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